Since mid-March, investors have withdrawn about $2.7 billion in bitcoins from exchanges

By Kluma | InterestingCrypto | 26 May 2020


Users took the most funds from the Bitfinex trading platform. there may be two reasons for This.

310 thousand BTC or about $2.7 billion in cryptocurrency have been withdrawn from exchanges since March 12, when the bitcoin exchange rate fell to $3800, experts of the analytical service Glassnode reported on their Twitter account. According to them, this is the longest outflow of funds from trading platforms in the history of digital money.

"Bitcoin is seeing the largest outflow of funds from exchanges in terms of duration. According to our data, after Black Thursday, more than 310,000 BTC were taken from the exchanges, "the analysts wrote.

He clarified that most of the cryptocurrencies were taken from the Bitfinex exchange since March 12. 126 thousand BTC was withdrawn from it. The second and third places are shared by huobi and BitMEX platforms, with investors withdrawing approximately 95.5 thousand BTC from them over the same period.

There may be several reasons for this trend. The first of them is distrust of trading platforms. They can be hacked or funds can be stolen by employees of companies. Also, the decision of investors to withdraw cryptocurrency could be affected by a series of failures and DDOS attacks, such incidents with well-known exchanges have occurred at least five times in the past few months.

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